What Is a VA Loan?
VA loans are mortgage loans insured by the U.S. Department of Veterans Affairs. They offer competitive terms and are available to eligible active-duty service members, veterans, and certain surviving spouses.
Borrowers must meet minimum qualifications, including obtaining a Certificate of Eligibility (COE), to receive financing.
Key Features
- No down payment required
- No mortgage insurance required
- Loan-to-value ratio up to 100% financing available
- Competitive interest rates
Basic Requirements
- Typical minimum credit score of 620 (varies by lender)
- Debt-to-income ratio generally not to exceed 41% (may vary)
- VA Certificate of Eligibility (COE) required
- Loan limits depend on entitlement and location
- Property must be a primary residence (no second homes or investment properties)
Eligibility Guidelines
- At least 90 days of service during wartime, or
- At least 180 days of service during peacetime
- Must not have a dishonorable discharge
VA loans are designed to make homeownership more accessible for those who have served, offering flexible qualification guidelines and significant financial benefits.
Have questions about VA loans? Contact us to learn more about your eligibility and available options.